Digital wealth manager Moneyfarm has formed a partnership with Allianz Global Investors which will provide access to an active wealth management solution at institutional cost to UK employees of Allianz companies.
This follows Allianz’s investment in Moneyfarm, which was announced in September 2016.
The two organisations have developed a new active wealth management solution called “Moneyfarm powered by Allianz Global Investors”. The product, which was built in just three months, will combine Moneyfarm’s digital customer experience and investor profiling with Allianz Global Investors’ expertise in active investment management. Moneyfarm will manage all operations.
Portfolios will be made up of Allianz Global Investors and PIMCO funds, and will be accessible to UK Allianz employees at a price usually only available to large institutional investors.
The on-boarding process uses Moneyfarm’s existing consumer service; on sign-up customers are asked a series of questions and aligned to one of six investor profiles. Allianz employees will then be offered affordable, and appropriate advice, combined with risk management tailored to an investor profile.
The investment management process is outsourced to Allianz Global Investors, which defines an asset allocation based on risk levels that Moneyfarm creates; all investment management decisions are approved by the Moneyfarm Investment Committee.
Moneyfarm powered by Allianz Global Investors was launched internally earlier this month.
Moneyfarm’s main website will continue to offer portfolios to the public built of exchange traded funds, whilst the new product will only be available to Allianz employees.
Paolo Galvani, chairman and co-founder of Moneyfarm, says: “This partnership is a natural extension of our existing product and demonstrates its flexibility. Enabling Allianz employees in the UK to invest with active funds through a digital interface is the next step for Moneyfarm in terms of delivering our model and solution across the full investment lifecycle.
“Combining user friendly technology, with human interaction and human investment management is a great progression of our hybrid model. One of the key reasons we wanted to work with Allianz was their hunger to explore the digital wealth management space, and this partnership is an exciting taste of things to come.”
“The launch of this programme in the UK is an exciting first step in our partnership with Moneyfarm, giving our UK-based colleagues access to professional investment management via a fully digital platform using actively managed Allianz Global Investors funds,” says Tobias C. Pross, head of EMEA at Allianz Global Investors.
